Trusted by more than 23,000 companies
On May 19, 2023, the artificial intelligence and machine learning laboratory OpenAI launched its popular ChatGPT as a mobile app on iOS first for the United States market. Announced on May 18, 2023, the app generated over 230 thousand downloads during its first day on the Apple App Store. On May 20, the mobile version of the conversational AI platform generated 280 thousand downloads. Launched on November 30, 2022, the ChatGPT platform has attracted global attention and interests.
Released on May 12, 2023, The Legend of Zelda: Tears of the Kingdom is the highly anticipated follow-up to the 2017 critical hit The Legend of Zelda: Breath of the Wild. An exclusive release for Nintendo's Switch console, the action-adventure game sold ten million units worldwide in its first three days, 2.24 million of which were sold in the game's domestic market Japan.
As of September 2020, the total number of Netflix subscribers amounted to about 201 million, making it by far the most popular subscription video-on-demand service worldwide. Amazon Prime Video ranked second in the market, with 117 million users. Estimates from May 2023 predict that both competitors might be up for a close race for the top spot by 2028, while Disney+ has lost considerable ground to them, compared to estimates from October 2021.
Why is Disney+ growing so fast?
In 2018, The Walt Disney Company acquired 21st Century Fox, which also included the TV broadcaster Star India – the owner of India’s most popular streaming platform Hotstar. Two years later, the media conglomerate launched the rebranded Disney Plus Hotstar in India and Indonesia. By 2026, the conversion of the preexisting platform will be rolled out to numerous other Asian countries. However, the number of Disney Plus subscribers decreased in the company's first two fiscal quarters of 2023 as Disney+ Hotstar, in particular, lost subscribers.
Leading VOD markets
According to estimates, over-the-top TV revenue reached over 150 billion U.S. dollars in 2022, with subscription video-on-demand revenue accounting for the majority of that figure. However, ad-supported video-on-demand is forecast to grow the most, with revenue more than doubling between 2022 and 2028.
The rate of inflation exceeded the growth of wages for the first time in recent years in April 2021. In this month, inflation amounted to 4.2 percent, while wages grew by 3.2 percent. The growth of wages surpassed that of inflation for the first time since March 2021 in April of 2023.
Inflation in 2022
The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40 year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power.
Wages in the U.S.
Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.
Healthcare data breaches in the United States are a constantly increasing risk with potential for significant damages to affected parties. The largest recorded U.S. data breach in the healthcare sector was in 2015 at Anthem Inc., a health insurance provider in the United States, when criminal hackers stole personal data affecting 78.8 million individuals.
Dior remained the most successful luxury brand on the Chinese short video app Douyin. During the week from April 2 to 8, 2023, Dior scored the highest - 207,768 points – on Douyin’s brand index. Coach kept the second place with about 191,000 points while Gucci made to the third spot. The brand index evaluates the overall performance of luxury brands on Douyin, based on effective brand content, user reach, and user search volume.
Luxury marketing in China
Many high-end brands have used social media to build loyalty and drive word of mouth in China. The most effective platforms to reach new and diverse customers were Weibo (Twitter of China), Xiaohongshu (Chinese equivalent of Instagram), and Douyin (TikTok’s sister). Content marketing, referral links on videos, and affiliate marketing with live streamers were the common social marketing strategies.
Dior’s supremacy in the Chinese market
Among the luxury labels in China, Dior has stood out with its marketing impact. The fashion powerhouse was also the biggest spender on magazine advertising and has actively delivered intriguing content on Weibo and other social media channels.
The number of Tencent's WeChat active accounts has been increasing steadily. As at the end of March 2023, the Chinese multi-functional social media platform had over 1.3 billion monthly active users.
WeChat users
First released in 2011, WeChat is a mobile messaging app developed by the Chinese company Tencent. In its home market of China, WeChat was marketed as Weixin and was rebranded as WeChat in 2012 for international audiences. In 2018, WeChat and Weixin surpassed one billion users, which was a significant increase from the previous year. Today, WeChat is one of the leading social networks worldwide, ranking fifth in terms of active user number. It has users from different age groups.
Special features on WeChat
WeChat has lots of popular messaging app features, including Moments. A majority of WeChat users access WeChat Moments every time they open the app. Voice and text messaging, group messaging, payment, and games are other examples of WeChat activities. The app also includes a following function whereby users can follow accounts. A survey found that a quarter of WeChat users in China spent over four hours on the app on a daily basis.
As of 2023, Manchester United had won the most English top flight titles, with a total of 20. This was one more than arch-rivals Liverpool, who have a total of 19. Meanwhile, Manchester City won the Premier League in 2022/23, bringing their total to 9.
LVMH was the leading company in France by market capitalization as of May 2023, with a market capitalization amounting to approximately 480.52 billion U.S. dollars. L'Oréal and Hermes followed, with market capitalizations reaching 244.3 billion and 230.6 billion U.S. dollars, respectively.
In 2022, the ten largest mortgage lenders in Australia comprised over 92 percent of the mortgage market. The Commonwealth Bank of Australia and Westpac Banking Corporation were leading mortgage providers by value of gross mortgage lending and accounted for roughly 26 and 22 percent of gross mortgage lending respectively.
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